Uplands Corporate Center Phase I, a 167,369 square foot, Class-A office building located at 5301 Southwest Parkway in Austin, Texas, is now 100% leased with the addition of a national credit tenant. The building now includes a well-diversified tenant roster of professional firms from the energy, financial services, legal and technology industries, amongst others.
Now that Uplands Corporate Center Phase I is fully leased, construction has begun on Uplands Corporate Center Phase II. The Phase II building will consist of a modern, 3-story, 124,405 square foot office building and expansion of an existing parking garage to service the two building, 291,774 square foot campus. Groundbreaking for Uplands Corporate Center Phase II occurred in December of 2019 and the building is expected to be delivered and ready for tenant improvements by Q4 2020.
Troy Holme and Casey Ford with CBRE represent the landlord, Drawbridge Realty, in the leasing of both Uplands Corporate Center Phase I and II.
“The Southwest submarket of Austin is growing quickly and is seeing a lot of interest from companies relocating to and within Austin,” says Troy Holme, Executive Vice President at CBRE in Austin. “What we saw with the lease up at Uplands Corporate Center Phase I is that companies are very attracted to the Southwest Parkway’s convenient access to both downtown and the airport. The project also offers value, given the aesthetic qualities of being located in the beautiful Texas Hill Country combined with its amenities and project features. We expect this interest to continue with Uplands Corporate Center Phase II.”
In addition to the Class-A office space, Uplands Corporate Center Phase I and II offer private walking and running trails on the 48-acre site, a structured parking garage, an outdoor amenity center, state-of-the-art gym, on-site food truck service, nearby retail amenities at Lantana Place, and easy access to highways 360, 290 and the Mopac Expressway.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About Drawbridge
Realty
Drawbridge is a San
Francisco-based real estate investment company that targets commercial property
investments in growth markets across the U.S. Its portfolio primarily consists
of office properties leased long-term to large corporations, with an emphasis
on strategically important locations. Drawbridge has a long history of
successfully creating value for corporate clients and investors, and has
completed transactions with companies including Bayer, Broadcom, IBM, Google,
Johnson & Johnson, L3Harris Technologies, Lockheed Martin, Medtronic,
National Instruments, and Northrop Grumman. Drawbridge’s current portfolio
comprises 49 properties totaling over 5.2 million square feet. For more information, please visit: www.drawbridgerealty.com.
